FAST NEWS: Tianqi Lithium’s Shares Sag on Hong Kong Listing Day

The latest: Chinese lithium product giant Tianqi Lithium Corp. (9696.HK; 002466.SZ) listed shares on the Hong Kong Stock Exchange Wednesday, the second lithium-related company to be on mainland and Hong Kong bourses. Looking up: Tianqi was priced at the upper limit HK$82 of its IPO price range, raising HK$13.46 billion ($1.7 billion) and making it the largest IPO in terms of capital raised this year. Take Note: The Company’s Hong Kong public offering was 9.3 times oversubscribed, reflecting a less-than-enthusiastic response from investors. As the oversubscription in the public offering…

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Could Covid Drugs Help Cure Financial Ills at Ascletis Pharma?

Ascletis Pharma has applied for U.S. FDA approval to start clinical trials on a new Covid drug, ASC10 Key Takeaways: Ascletis Pharma is ready to put its new Covid drug into clinical trials, but the firm is lagging in the race to bring similar medicines to market With mounting losses weighing on its share price, the company’s main hope for better sales lies in its ritonavir tablets used in existing Covid treatments By Molly Wen As Covid becomes an endemic illness, the global pharma sector is looking to develop a…

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Fosun’s Luxury Dream Advances as Lanvin Group Nears New York Listing

Financial conglomerate’s recently formed luxury group, whose brands include Sergio Rossi and St. John Knits, says it expects to complete a SPAC listing by year-end Key Takeaways: Fosun’s Lanvin Group of luxury brands said it expects to complete a SPAC listing in New York by the end of this year Company reported 339 million euros in revenue last year, and aims to triple that by 2025 through acquisitions and big growth in China and North America By Doug Young Just days after we wrote about a company whose plan to…

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